The Bank of England (BOE) is a fantastic resource and a wealth of information for those wanting to know the difference between inflation and interest. Their interactive resources and information bring economics and finance to life.
St James’ students had the opportunity to visit the BOE museum as part of the Deep Learning day this January. We started by exploring the role of the Bank and learning how it keeps inflation in check. Students could adjust interest rates and taxes in order to keep inflation at the magic 2%. Worksheets helped everyone navigate the museum, with a BOE pen given as a reward for completing the tasks.
As well as being able to hold a gold bullion, students could find out about the role of gold in UK finance; the amount of gold held by the Bank; and why gold is still important for the economy today.
The final part of the museum explored how currency is created and the measures taken to stop it being copied. All agreed that it was almost impossible to duplicate a note.
A visit if free and really easy to organise. If you can not get the the museum, then do check out their online educational resources.